Sears posts loss of $2.00 a share vs. $2.59 loss expected

June 8, 2015 10:34 AM

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Sears posts loss of $2.00 a share vs. $2.59 loss expected

Sears reported a smaller-than-expected quarterly loss on Monday, but revenue was lower than forecast as its Kmart chain and Sears department stores discounted less.

The company, which plans to spin off about 235 stores into a real estate investment trust (REIT), said it expected to launch a rights offering to buy shares in the REIT on Friday. The offering is expected to raise $2.6 billion, Sears said.

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